New Delhi, June 19 -- With rising tuition costs along with education loan interest rates ranging primarily from 8% to 16% (depending on the lender), managing student loan debt has become a rapidly growing challenge for graduates in the nation. Still, with sensible and smart planning along with the right tools, borrowers can substantially ease the overall debt burden.

To help young students and borrowers, Kamal Sabhlok, Head, Secured Lending and Microfinance Business, RBL Bank, suggests, "Students should think beyond just securing a loan-they must optimise it. Availing tax deductions, tapping into subsidy schemes, and making partial interest payments early on can reduce long-term pressure. Smart tools like step-up EMIs and timely refinanc...